Compare all the best ways to send money to Kenya

The exchange rate determines how much KES the recipient will get when you transfer money to Kenya.

For example, today, the average exchange rate between US Dollar and Kenyan Shilling is 129.4131.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more KES.

If you do need to send KES now, we suggest using Wise.

The cheapest way to pay for your transfer to Kenya is via bank transfer with Key Currency. It is 0.11% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of KES you receive.

Here are your cheapest options:

*Based on a 7,000 transfer to Kenya using our comparison data.

Avoid using a credit card option for transfers to Kenya, as it’s the most expensive.

Credit card transfers to Kenya come with cash advance fees and higher interest rates on KES.

When possible, avoid sending KES over the SWIFT network. Despite its name, SWIFT transfers to Kenya are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

Here are a few examples of what you can expect for different transfer amounts to Kenya:

Sending under $1,000 to Kenya

Sending small amounts to Kenya is easy and affordable.

Money transfer providers allow you to send up to $2,000 quickly, and apps like XE will enable you to do so without fees.

Sending $1,000 or more to Kenya

Money transfer apps let you send small amounts, but depending on your provider, you may run into a money transfer limit.

XE has a large limit of $500,000, though WorldRemit only allows you to send $5,000 per transaction (or only $300 when using Apple Pay), with a 24-hour limit of $9,000.

Instarem has no daily limit, though you may need to complete a small, successful transfer before moving on to larger amounts.

Sending $10,000 or more to Kenya

To send more than $10,000, you’ll need to use XE or Instarem, as WorldRemit has a $9,000 daily transfer limit. Instarem has no daily limit, enabling users to send larger sums.

Sending $100,000 or more to Kenya

Instarem and XE can both be used to send larger amounts.

Once you send six-figure sums, you might also consider brokerage services such as TorFX or Currencies Direct.

In general, the quicker you need KES delivered, the more it will cost you in fees.

Transfer speed to Kenya depends on the KES amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer 7,000 from the US to Kenya.

Overall, of 9 companies serving Kenya, Wise is the fastest regardless of the deposit method.

For bank or debit card deposits, services like Wise excel in this regard, offering near-instantaneous and cheapest KES transfers with $78.91 or $0 fees respectively and 0% markup.

For most urgent transfers to Kenya, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for KES transfers as it's slower due to intermediary banks in Kenya.

There are a few ways to send money to Kenya:

Online

You can send money to Kenya with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our analysis.

App

Most money transfer services supporting Kenya transfers have an app, often, offering a better KES rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to Kenya in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect KES.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Kenya. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to Kenya.

And if you need cash right away, check if cash pickup is an option for transfers to Kenya.

You can receive money into popular digital wallets in Kenya, including:

• M-Pesa

• Airtel Money

• Equitel

• T-Kash

This is a great option if you don't have access to the bank, or manage your finances through the apps.

However, please note that CashApp is not available in Kenya.

To receive money in Kenya, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of KES to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Kenya, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Kenya. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Kenya, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large KES transfers and will help you get things done fast.

You'll pay tax on transfers under the following circumstances:

• You send more than the IRS gift allowance.

• Your business sends more than $10,000 during the tax year

• You have a foreign account containing more than $10,000

Gifts aren’t taxable under Kenyan law, though any money received as payment will be classified as a form of income, which recipients can report on their annual income tax return.